Goldman Surprises 100 Partners With Tens Of Millions In Mid-Year Bonus

Goldman Sachs would like to say ‘thank you’ to the taxpayers for TARP. 

About 100 London-based Goldman partners earned an unusual mid-year bonus of tens of millions of pounds in stock this August.

From Sky News:

Goldman Sachs has secretly handed its top London-based employees tens of millions of pounds-worth of free shares following a decision to cap their pay in the wake of this year’s Labour Government tax on bank bonuses.

There are two issues here – how they got the bonuses and why. The bonuses represent an interesting compromise between Goldman, its partners, and the FSA.

Read the rest at BusinessInsider